Some Points of View Need Filtering — Others, Not So Much

Like, if you are a Wall Street Journal reader, you need to know that:

[Paul Krugman] believes that the $787 billion government stimulus approved last year was not enough to really kick-start the economy and that much more is needed. You can correctly read many of his columns — including this one — as arguments for more taxpayer-funded stimulus. So just know that.

But you will not need any viewpoint warning before being quoted the economic prescriptions of a Wall Street analyst:

Oddly, Ahrens didn’t feel any sort of “disclosure” was necessary when quoting Peter Boockvar, an equity strategist at Miller Tabak whose remarks were far more political than anything Krugman offered. Read this section of Ahrens’ story:

My e-mail [to Boockvar] was short: “Double-dip or slowdown?”

His response was equally abrupt: “Depends on who wins Nov. elections and what taxes get hiked in 2011.”

The tax cuts enacted by President George W. Bush expire at the end of this year. President Obama has proposed extending those cuts — except for families that make more than $250,000 a year. If Republicans win Congress in November, it’s a good bet that the wealthiest Americans will keep their tax cuts. If the Democrats hold the Hill, it’s unlikely.

“Our fragile economy CANNOT handle any tax hikes whatsoever, particularly on capital and the income of those who invest, save and spend the most,” Boockvar wrote, meaning those American families that make more than $250,000 a year. The all-caps are his, but the feeling is shared by many.

Gee, I wonder if Boockvar may have a personal and political and professional stake here. Hey Ahrens, next time you cite him how about running this disclosure:

“Peter Boockvar’s economic well-being is tied to rich people having a lot of money to invest in stocks and other equities. He himself is rich and doesn’t really give a shit about poor people. Like others on Wall Street, he profited handsomely from de-regulatory policies that led to the financial collapse that has beggared millions of Americans. Many people share the view that he is essentially a blood-sucking leech. So just know that.”

Forewarned is forearmed.


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Filed under Economy, Media, Politics, Society

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